Stocks Post Worst Day of Year, as Consumer Stocks Flash Warning Signs 2/21/23

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 21 February 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Dow dropped nearly 700 points and fell back into negative territory for the year and the Nasdaq fell 2.5%. The moves coming after stark warnings from Home Depot and Walmart about the strength of the consumer this year. We’re joined by former Walmart U.S. CEO Bill Simon to give his take on the retailers’ results, plus Canaccord’s Tony Dwyer on why he thinks there’s more pain to come for the markets. Fast Money Disclaimer

Transcript

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0:00.0	Right now and fast warning signs for Wall Street.
0:05.0	It's stark outlooks from some of the biggest consumer names sending stocks plunging today.
0:09.2	Major indices all posting their worst drops of the year, the Dow going negative for 2023.
0:14.0	Meantime rates spiking higher, the tenure at its highest level since November, getting
0:17.9	back within a whisper of the 4% mark.
0:20.5	What all this means for your portfolio and why one top market watcher says we could be
0:24.4	heading back to the October lows.
0:26.3	Plus bargain hunting for Tesla's.
0:28.8	The EV giants cars have been, prices have been slashed in recent weeks but isn't enough
0:33.4	to keep the buyers coming in.
0:34.4	We'll dive into what it all means for the stock.
0:37.2	And later on the mend healthcare stocks riding their longest losing streak on record.
0:42.6	But could the sector be ready to turn things around.
0:45.0	We'll dive into the charts to find out.
0:46.9	I'm Melissa Lee.
0:47.9	This is fast money.
0:48.9	We're live at the Nasak Market.
0:49.9	I didn't the heart of time square on the desk tonight.
0:51.9	Courtney Garcia, Karen Feynman, Dan Nathan, and Guy Adami.
0:54.9	Look at us sitting here on Saturday.
0:56.9	Beautiful.
0:57.9	Full out.
	...

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